On the recordFebruary 9, 1994
I think the idea, what we are saying, that one premium will fit all. So if you are 21 years old and you wake up in the morning and eat bean sprouts and jog marathons all day, your premium is going to be the same as somebody who is 55 years old and who has less worries about health care in terms that they just will not take care of themselves. They might smoke, drink, and eat excessively and never exercise. Yet the two will pay the same premium. That is a Government artificial price control, because you really--all the Government can do is cap these prices. But someone is going to get overcharged. So in this case, if you are 21 years old, you are going to be overcharged to underwrite the 55-year old who is not taking care of himself.
Source
govinfo.gov
